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SBI Card tops IPO price after Q1 numbers beat Street estimates

SBI Card tops IPO price after Q1 numbers beat Street estimates

The company on Monday posted a 13.8 per cent year-on-year rise in net profit at 393.3 crore for the quarter ended June, while total revenue from operations rose 4 per cent to Rs 2,152.2 crore. HSBC raised its price target on SBI Cards to Rs 825 from Rs 720, while maintaining a ‘buy’ rating, after the first quarter earnings.